This book holds that the crucial failure of corporate governance is the expropriation of outside investors, be they shareholders or creditors, by those who are in control of firms. The problem of expropriation...
Privatization is under attack. Beginning in the 1980s, thousands of failing state-owned enterprises worldwide have been turned over to the private sector. But public opinion has turned against privatization...
The author examines the theoretical and empirical literature pertaining to securities laws and their enforcement by regulators and courts to establish what is known and what is yet unclear. Recent empirical...
This FOCUS publication provides an in-depth examination of a major corporate governance policy, initiative, or issue through a combination of research, case studies, and expert opinion. Unlike a traditional...
Tight money in a post-crisis defense of the exchange rate : what have we learned?, by Peter J. Montiel. Foreign bank entry : experience, implications for developing economies, and agenda for further research...
A review of the evidence on judicial reforms across countries shows that those seeking to improve economic performance should not focus on judicial efficiency alone but on independence as well. It also...
The transition from socialism, the Asian financial crisis, and the European economic and political integration, have challenged understanding of how capitalist economies and societies work. Capitalist...
The institutions of bankruptcy have been at the center of the great economic events of the last decade, ranging from the Asian economic crisis, to the transition from socialism to capitalism. Our understanding...
Do the timing and type of auction affect the sale price? What kind of restructuring is worth doing before privatization? The author examines how much these and other factors affect privatization prices...
Critics of privatization often argue that its benefits come at a high cost to society. The authors test the validity of this criticism for Mexico's privatization program, one of the world's largest case-by-case...
A new method for auctioning highways. Water privatization and regulation in England and Wales. Designing regulatory institutions for infrastructure - lessons from Argentina. Colombia's gradulist approach...
Does the owner of a share of stock in Mexico have the same rights as one in Germany or India? Is a creditor in Italy as well protected as one in Switzerland? Do laws protecting investors differ among countries...